Apple stock is becoming mighty expensive to purchase.
Shares closed Monday at $502.60, up $9.18 or 1.86 percent.
The Cupertino, Calif.-based consumer electronics giant is the largest U.S. company based on its massive market value ($467 billion).
Based on a share price of $500, Apple’s stock price has surged $95 or 23.5 percent year-to-date, Forbes reported.
Market value, the NASDAQ explains, is what investors believe a company is worth and it’s calculated by multiplying the number of shares outstanding by the current market price of a firm’s shares.
Exxon Mobil Corp. is the second-largest U.S. company based on market value ($404 billion).